Connect with us

Industry News

Evolution Gaming Reports Positive H1 2020 Results

Published

on

Reading Time: 3 minutes

 

Evolution Gaming has reported positive H1 2020 results. The company’s operating revenue increased 48% year-on-year to €243.5 million during H1.

EBITDA also increased by 85% to €145.3 million, corresponding to a margin of 59.7% (47,7), while profit for the period amounted to €124,6 million (63,1) and earnings per share amounted to €0.69 (0.35).

During the second quarter, operating revenues increased by 50% to €128.3 million (85,7), EBITDA increased by 90% to €81,1 million (42,7), corresponding to a margin of 63,2% (49,8). Profit for the period amounted to €70,4 million (34,5) and earnings per share amounted to €0.39 (0.19).

Evolution CEO Martin Carlesund said: “The strong development for Evolution continued during the second quarter. The quarter has been eventful with several product launches and a very high demand, partly due to the lack of sports betting games through a large part of the period, but we also see strong underlying growth. At the end of June, we announced a recommended offer to the shareholders of NetEnt with the aim to expand Evolution’s offering with market-leading slots and to continue towards our vision to become the global leading provider of online casino.

“Revenues for the second quarter amounted to EUR 128.3 million (85.7), an increase of 50 percent compared to the corresponding period last year. EBITDA amounted to EUR 81.1 (42.7) with a margin of 63 percent. The margin has been positively affected by high demand and that we have operated fewer tables due to the pandemic. However, the lower number of tables has had a negative effect on revenue both through lower fees from our dedicated environments and through lower capacity than normal. For the January-June period, the margin was 60 percent, meaning we have a good distance to our previous prediction of improving the margin level this year compared to 2019.

“Evolution’s vision is to become the leading B2B provider in online casino. An acquisition of NetEnt means that we can accelerate the pace towards this vision. To add NetEnt’s leading slots to Evolution’s strong Live Casino offering will create a very strong market position significantly faster, especially in the USA, and together with clear synergies we believe this to be a strategic and highly attractive acquisition. A future Evolution with two verticals as the foundation will increase cash flow and reduce risk, while the growth potential increases. The bid process continues according to the previously announced time schedule.

“During 2020, Evolution has continued and strengthened its focus on products and innovation. Our ability to develop new unique games while at the same time creating new variants of traditional games is important to further strengthen our leading position in Live Casino. So far, we have launched 8 out of the 12 games that we will launch this year. After the end of the quarter, we launched another one – Crazy Time – which is the most expensive and time-consuming game that we have developed to date. The reactions were instant, and we are overwhelmed by the positive reception among both players and operators.

“All new titles, especially in the Game Show category, contribute to a generally higher interest in Live Casino. To meet the increasing demand, it is vital that we continue to expand our studio capacity. Our Pennsylvania studio will be our 9th studio. Upcoming additions include a studio in Michigan and an English speaking studio in Lithuania.

“During the quarter we signed an agreement with Golden Nugget that will see Evolution’s US Live Casino services to be added to their existing online offering in New Jersey. The agreement consolidates Evolution’s leading position in New Jersey, while also providing a strategic platform to explore additional opportunities together with Golden Nugget in other states as the regulation of online casino in the USA continues.

“It has been an intense first half of the year impacted by Covid-19, which has entailed here-and-now problem solving. Since a few months back, we have a more stable virus situation and we have been able to devote more time to look forward while also preparing Evolution for a possible future second wave or similar pandemics. We are now working intensively with next year’s product launches and how Evolution will play a role in the continued digitalisation of the casino industry. I believe that our focus on the best game experiences and a relentless approach to always improve as a company will continue to be important pieces as we move ahead. We shall become slightly better each day, and every day shall take Evolution another step forward.”

Powered by WPeMatico

Continue Reading
Advertisement

Gaming Laboratories International

GLI Promotes Malvina Mikaelian and Reenesh Mahabeer to Senior Directors of Engineering

Published

on

gli-promotes-malvina-mikaelian-and-reenesh-mahabeer-to-senior-directors-of-engineering

 

Gaming Laboratories International (GLI) has promoted Malvina Mikaelian and Reenesh Mahabeer to Senior Directors of Engineering.

Mikaelian has been with GLI for 22 years and is based in the Las Vegas lab. Over her history with the company, she has opened GLI’s South Africa and Las Vegas labs and has led the technical group through the most dynamic advances in gaming technology.

“Malvina brings a proven track record of technical leadership, operational excellence, and cross-functional collaboration. In her new role, she will lead strategic engineering initiatives, strengthen organizational execution, and help drive the next phase of innovation and growth for the global land-based division,” Andrea Bossard, Vice President of Engineering at GLI, said.

Mahabeer is based in GLI’s South Africa lab and has been with the company for just under 20 years, working his way from a Senior Engineer to his current position as Senior Director of Engineering. He has led his team through multiple changes in the South African gaming landscape, in both land-based and iGaming.

“Reenesh is a trusted, exceptional leader driving our global digital initiatives and accelerating innovation in emerging technologies. He combines vast market and technical expertise to deliver global consistency and a world-class experience for our clients, while inspiring peers and empowering his team,” Ginnie Hollis, Vice President of Engineering at GLI, said.

The post GLI Promotes Malvina Mikaelian and Reenesh Mahabeer to Senior Directors of Engineering appeared first on Americas iGaming & Sports Betting News.

Continue Reading

Andy Hendrickson

IGT Executive Andy Hendrickson Expands Role to Become Chief Product & Technology Officer

Published

on

igt-executive-andy-hendrickson-expands-role-to-become-chief-product-&-technology-officer

IGT announced that Andy Hendrickson has expanded his role to become Chief Product & Technology Officer (CPTO), subject to receipt of all required regulatory approvals.

Hendrickson previously served as IGT’s Chief Technology Officer (CTO) since joining the merged IGT and Everi enterprise in 2025. He is recognized as a transformative technology executive behind industry-disrupting platforms and technologies that blend strategic vision with operational excellence to deliver measurable results at scale.

“I’m very pleased that Andy Hendrickson is expanding his role at IGT to become our Chief Product & Technology Officer, leveraging his vision and expertise across technology, products and solutions to help our global customers deliver industry-leading games to players while enhancing their operations. Andy’s leadership as CPTO ensures tighter alignment between our products and processes, and how we leverage world-class talent across our global game studios to create value,” IGT Incoming CEO Hector Fernandez said.

“I’m excited to expand my global technology leadership role to become IGT Chief Product & Technology Officer. I believe IGT has the ingredients to deliver industry-leading products and solutions to our customers, and with the strength of our game studio talent, disciplined content creation and product management, we are well-positioned for growth and innovation,” IGT CPTO Andy Hendrickson said.

Prior to joining IGT, Hendrickson served as CTO of one of IGT’s global competitors. Earlier in his career, Andy served as CTO of Activision Publishing and led technology for some of the world’s most successful console game franchises, including Call of Duty, Crash Bandicoot, and Sekiro. At Walt Disney Animation Studios, Andy led technology for blockbusters like Frozen. Earlier leadership roles include Head of Technology at Pacific Data Images/DreamWorks Animation, where he enabled multi-film annual releases including Shrek 2 and Madagascar, and Senior Technology Officer at Industrial Light & Magic, where he elevated visual effects to new creative frontiers.

A named inventor on multiple U.S. patents, Andy has led innovation spanning remote collaboration, stereoscopic depth rendering, and advanced image processing. His work has garnered film credits on landmark titles including Forrest Gump, The Mask, Men in Black, Frozen and Wreck-It Ralph, alongside numerous blockbuster gaming releases.

He holds a BA in Physics from the University of California, Berkeley, and is an active member of the Academy of Motion Picture Arts and Sciences, SMPTE, and ACM SIGGRAPH.

The post IGT Executive Andy Hendrickson Expands Role to Become Chief Product & Technology Officer appeared first on Americas iGaming & Sports Betting News.

Continue Reading

Bill Carstanjen

CDI Announces Development Plans for Casino in Salem, New Hampshire

Published

on

cdi-announces-development-plans-for-casino-in-salem,-new-hampshire

 

Churchill Downs Incorporated (CDI) has announced new development details related to its charitable gaming facility in Salem, New Hampshire. The company currently operates Casino Salem, located in 19,000 square-feet within The Mall at Rockingham Park. Casino Salem will be redeveloped as Rockingham Grand Casino.

Rockingham Grand Casino will occupy 160,000 square-feet over three floors and will feature 825 historical racing machines, 32 table games, 12 electronic table game seats, a 900-seat live entertainment venue, and several food and beverage concepts, including a center bar and full-service sports bar and restaurant. The Company received approval from the Salem Planning Board for its development plan in December.

Rockingham Grand Casino will be a key tenant of The Mall at Rockingham Park which is the largest shopping mall in New Hampshire. Rockingham Grand Casino is also positioned near Tuscan Village, a prominent mixed-use development offering dining, entertainment, retail shopping, residential areas, hotels, and commercial office space. CDI plans to open Rockingham Grand Casino in mid-2027, with an expected capital investment of $180-200 million.

“We are proud to officially begin our development of Rockingham Grand Casino in partnership with Joe Faro and Sal Lupoli. We look forward to contributing to New Hampshire’s charitable organizations while bringing outstanding entertainment experiences to our guests across the greater Boston region,” said Bill Carstanjen, Chief Executive Officer of CDI.

“We are excited to take the next step alongside our valued partners at Churchill Downs as we begin our journey to bring Rockingham Grand Casino to life. We remain fully committed to strengthening our local economy through the creation of vibrant consumer destinations,” said Joe Faro and Sal Lupoli.

The post CDI Announces Development Plans for Casino in Salem, New Hampshire appeared first on Americas iGaming & Sports Betting News.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania